Castle Biosciences (NASDAQ:CSTL) Hits New 12-Month High at $31.91

Castle Biosciences, Inc. (NASDAQ:CSTL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $31.91 and last traded at $31.68, with a volume of 29029 shares trading hands. The stock had previously closed at $30.95.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of research reports. Stephens restated an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird raised their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences currently has a consensus rating of “Buy” and an average target price of $32.80.

Castle Biosciences Stock Down 2.8 %

The firm has a market cap of $838.15 million, a PE ratio of -26.40 and a beta of 1.02. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $25.80 and a 200-day moving average price of $23.14.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.47. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The company had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. Research analysts forecast that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $22.06, for a total value of $61,613.58. Following the sale, the chief operating officer now directly owns 145,825 shares in the company, valued at $3,216,899.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the transaction, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kristen M. Oelschlager sold 2,793 shares of Castle Biosciences stock in a transaction on Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,665 shares of company stock worth $828,222. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds have recently made changes to their positions in the company. RiverPark Advisors LLC lifted its holdings in shares of Castle Biosciences by 362.2% in the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after acquiring an additional 832 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Castle Biosciences by 70.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after acquiring an additional 2,187 shares during the period. Denali Advisors LLC purchased a new position in shares of Castle Biosciences during the first quarter worth approximately $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.